Do 5% down multi family loans even exist?

Private Lending & Conventional Mortgage Advice
7yFollow

Do 5% down multi family loans even exist?

Matt Everling
Rental Property Investor · Temecula, CA · Member since 2019 · 128 posts · 54 votes

Hello BP collective genius,

I bought my first duplex 10 years ago and was able to secure a loan with only 5% down. Do these loans even exist anymore? Appreciate any help.

0Reply
106 views

Most Popular Reply

Kevin Romines
Lender · Winlock, WA · Member since 2013 · 1k+ posts · 1k+ votes
7y

FHA 1-4 Unit (only for owner occupied) is 3.5% down. Freddie Mac Home Possible (again, only for owner occupied) is 5% down. A conventional purchase as an investment would be 15% down for a single family and 25% down for a 2-4 unit property. Some portfolio will go to 80 or 85% on a 1-4 unit non-owner occupied without MI, but at higher rates than conventional loans.

I hope this helps?

6Reply
See this reply in the discussion

30 Replies

Jump to latestLatest
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Matt Everling:

    @Nate Marshall I made a visit to Navy Federal Credit Union and they told me that they do investment property loans for 15% down. There is no PMI and they do not limit the number of loans.

    what is their lending foot print. ?? that's were many get hung up.. 

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Matt Everling
    OP
    Rental Property Investor · Temecula, CA · Member since 2019 · 128 posts · 54 votes
    7y

    @Jay Hinrichs Thanks for your comment Jay. Sorry for the dumb question, but what is a lending footprint?

    0Reply
  • Matt Everling
    OP
    Rental Property Investor · Temecula, CA · Member since 2019 · 128 posts · 54 votes
    7y

    @John Corey Thanks John! I will make sure to ask those important questions to my POC at Navy Federal.

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Matt Everling:

    @Jay Hinrichs Thanks for your comment Jay. Sorry for the dumb question, but what is a lending footprint?

    credit unions usually have a geographic area they service..  so do smaller commercial banks  the slang for this is footprint.

    now Navy might have a very a large foot print but most credit unions just service their communities  

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    1Reply
  • Matt Everling
    OP
    Rental Property Investor · Temecula, CA · Member since 2019 · 128 posts · 54 votes
    7y

    @Jay Hinrichs Thanks Jay. You know I have to say that I have seen you in a lot of different places in the discussion arena and I really value your insight and advice.

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free